This etching, which served as the frontispiece of the third volume of Le Antichità Romane, reveals Piranesi’s fantastical reconstruction of the Circus Maximus, one of the most ancient sites in Rome. The circus, which lay in a low valley between the Palatine and the Aventine Hills, had been used for chariot races since at least the fourth century BC. At the top of the image, intricate imperial residences piled atop the Palatine Hill overlook the racetrack below. The spina, or central barrier of the racetrack, is dotted with a multitude of statues and elaborate architectural elements, which largely reflect what was known about the Circus Maximus. One of the obelisks found there had been erected by Emperor Augustus in 10 BC. Early modern pope Sixtus V (1585–1590) ordered the excavation and restoration of the obelisk, which was then erected in the Piazza del Popolo to mark the entry point of the city for pilgrims and other travelers. The objects in the foreground—sarcophagi, altars, funerary urns, statues, etc.—turn the viewer’s attention to the tombs and funerary monuments from the ancient city, the subject of the volume. While this image is shown as a stand-alone print, Piranesi designed it to function as an integral part of a book that conveyed his knowledge of antiquity and his theoretical beliefs as an architect. Piranesi’s simultaneous reliance on the archaeological record and his imaginative faculties as designer in his re-creation of the ancient stadium is itself a powerful demonstration of his argument.